Fortis to sell stake in Vietnam-based hospital for $80 mn

 Fortis Healthcare has entered into a pact to sell its entire stake in Vietnam-based hospital chain Fortis Hoan My Medical Corporation to Viva Holdings Vietnam for $80 million (over Rs 465 crore).

In 2011, Fortis Healthcare International had acquired 65 per cent stake in Hoan My Medical Corporation for $64 million.

'In keeping with our current priorities in allocation of resources and further strengthening our balance sheet we have decided to accept this unsolicited offer from Viva Holdings,' Fortis Group CEO Vishal Bali said in a statement on Tuesday.